Ewing Morris & Co. Investment Partners Ltd. Acquires Shares of 180,000 Enerflex Ltd. $EFXT

Key Points

• Ewing Morris & Co. Investment Partners Ltd. acquired a new position in Enerflex Ltd., purchasing 180,000 shares valued at approximately $1.39 million, representing a 0.14% ownership stake.
• Analysts have upgraded Enerflex's stock rating to a "strong-buy" and lifted the target price to $13.00, indicating positive market sentiment.
• Enerflex also announced an increase in its quarterly dividend from $0.03 to $0.0375, reflecting a positive change in shareholder returns.

Ewing Morris & Co. Investment Partners Ltd. purchased a new position in Enerflex Ltd. (NYSE:EFXT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 180,000 shares of the company's stock, valued at approximately $1,391,000. Ewing Morris & Co. Investment Partners Ltd. owned about 0.14% of Enerflex at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Enerflex by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 63,885 shares of the company's stock worth $642,000 after purchasing an additional 2,828 shares during the period. Northwest & Ethical Investments L.P. grew its holdings in shares of Enerflex by 2.2% during the first quarter. Northwest & Ethical Investments L.P. now owns 204,109 shares of the company's stock worth $1,578,000 after buying an additional 4,486 shares in the last quarter. Barclays PLC boosted its holdings in Enerflex by 20.3% in the fourth quarter. Barclays PLC now owns 31,481 shares of the company's stock valued at $314,000 after acquiring an additional 5,312 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Enerflex by 21.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,096 shares of the company's stock valued at $302,000 after acquiring an additional 6,793 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Enerflex by 13.9% during the 1st quarter. Russell Investments Group Ltd. now owns 63,920 shares of the company's stock valued at $494,000 after buying an additional 7,797 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Enerflex Price Performance

Shares of EFXT traded down $0.05 during midday trading on Wednesday, hitting $10.20. The company's stock had a trading volume of 335,492 shares, compared to its average volume of 633,007. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 11.34 and a beta of 2.01. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.65. The company's fifty day simple moving average is $8.67 and its two-hundred day simple moving average is $7.81. Enerflex Ltd. has a one year low of $5.29 and a one year high of $10.61.

Enerflex (NYSE:EFXT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.42. The business had revenue of $615.00 million for the quarter, compared to the consensus estimate of $555.24 million. Enerflex had a return on equity of 10.21% and a net margin of 5.54%. As a group, equities analysts expect that Enerflex Ltd. will post 0.25 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.0375 per share. This is a positive change from Enerflex's previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. Enerflex's payout ratio is 10.58%.

Wall Street Analyst Weigh In

Several research analysts have commented on EFXT shares. CIBC decreased their target price on shares of Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Enerflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Raymond James Financial reiterated an "outperform" rating on shares of Enerflex in a research note on Friday, August 8th. BMO Capital Markets reissued an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Finally, Royal Bank Of Canada raised their target price on Enerflex from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.13.

Enerflex Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.